Dogecoin has experienced an extraordinary surge in adoption, with more than 890,000 new DOGE addresses created in the past seven days. The adoption rate skyrocketed to 86% as newly onboarded users engaged in their first transactions, according to insights from IntoTheBlock. This surge in activity is attributed to the renewed interest in Doginals, sparked by the release of Doom on the Dogecoin chain, and rumors surrounding Xpayments potentially attracting new users to DOGE.
The remarkable growth within the Dogecoin network was further emphasized by crypto analyst Ali Martinez. In a recent post, Martinez highlighted a staggering 1,100% increase in new addresses over the past week. January 29 alone witnessed an unprecedented creation of 247,240 new DOGE addresses, setting an all-time high. The sustained uptrend in network expansion has the potential to positively impact the price of DOGE.
Adding to Dogecoin’s momentum is a major endorsement from entrepreneur and former Dallas Mavericks principal owner Mark Cuban. During a recent Ask Me Anything [AMA] session on an undisclosed platform, Cuban reaffirmed the NBA team’s unwavering support for the meme coin. Responding to community queries, the business magnate assured that the Mavericks would continue to accept Dogecoin as a form of payment.
This endorsement builds upon the Mavericks’ pioneering decision in March 2021 to integrate Dogecoin into their payment options for tickets and merchandise. The team’s commitment underscores their willingness to embrace the growing mainstream acceptance of digital currencies. As Dogecoin’s adoption and network expansion continue to surge, there is growing optimism about its future trajectory and potential impact on its market value.
Top Dogecoin Holder Defends Against Hacking Attempt
Despite the notable increase in DOGE activity, the corresponding surge in its price has been minimal over the past 24 hours. Currently valued at $0.07 and holding the 10th position in market rankings with a market cap of $11 billion, DOGE has seen slight gains. Notably, amidst this activity surge, a major Dogecoin wallet successfully thwarted a hacking attempt.
The top Dogecoin wallet, MyDoge, shared the details of the recent hacking attempt on X. MyDoge Wallet reported that it detected an unauthorized effort by malicious actors to take control of its X account.
A hacker was able to post messages on our account using ‘Delegate Access,’ which was added during the previous hack and was undetected until now. We’ve regained control, removed the bad actor, and informed X of the situation. Everyone should check the ‘Delegate Access’ section in their X settings for anything suspicious.